Tikkurila Oyj and the City of Vantaa have signed a cooperation agreement on the development of Tikkurila’s land area

In September, Tikkurila Oyj announced that it is preparing a cooperation agreement with the City of Vantaa related to the development of Tikkurila's land area in Vantaa, Finland. The City Executive Board of Vantaa approved the agreement at its meeting on 19 October 2020, and the parties have signed the agreement on October 26. 

Tikkurila Oyj Press Release 27 October 2020

The cooperation agreement is related to Tikkurila Oyj’s plans to relocate its Finnish business operations and the development of the current land area as part of the company’s broader project for production network optimisation. The cooperation agreement covers the entire current land area owned by Tikkurila Oyj in Vantaa, which is approximately 21 hectares. The agreement describes the phases of the development of the area, taking into account the continuation of Tikkurila Oyj’s production and warehousing activities in the area during the development.

According to plans, the development of the area will progress in several phases, the most recent of which will be the development of the actual plant area. For the time being, the plants in the area will continue to operate normally at their current locations. The implementation of a potential new plant is up to ten years away. During that time, the production will continue in the current units. Tikkurila Oyj has not yet made decisions about building a new plant or its location.

Tikkurila Oyj has operated in Tikkurila, Vantaa, since its establishment in 1862. Tikkurila has two plants in the area that produce water- and solvent-borne decorative and industrial paints. The plants were brought into operation in 1975 and 1982.

For further information, please contact:

Investors, media:

Elisa Markula, CEO
elisa.markula@tikkurila.com
tel. +358 20 191 2196

Project management:

Jari Lassila, Project Director
jari.lassila@tikkurila.com
tel. +358 20 191 2720